Analysts Set InMode Ltd. (NASDAQ:INMD) Price Target at $16.00

InMode Ltd. (NASDAQ:INMD) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $16.00.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Thursday, August 6th.

InMode Trading Down 0.1%

NASDAQ:INMD opened at $14.89 on Thursday. The stock has a market capitalization of $855.88 million, a PE ratio of 12.11 and a beta of 1.86. The firm’s 50 day moving average is $15.08 and its 200 day moving average is $14.29. InMode has a 12 month low of $12.72 and a 12 month high of $16.74.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. InMode had a return on equity of 11.99% and a net margin of 20.69%.The business had revenue of $95.59 million for the quarter, compared to the consensus estimate of $94.89 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. InMode’s revenue for the quarter was up .0% on a year-over-year basis.

Institutional Investors Weigh In On InMode

Several hedge funds and other institutional investors have recently modified their holdings of INMD. Renaissance Technologies LLC grew its position in InMode by 6.1% during the first quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock worth $35,379,000 after buying an additional 149,800 shares in the last quarter. Steel Partners Holdings L.P. raised its holdings in shares of InMode by 154.8% in the 1st quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after acquiring an additional 1,090,697 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of InMode by 6.7% in the 1st quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock valued at $15,793,000 after acquiring an additional 72,041 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of InMode by 1,390.6% during the 2nd quarter. California State Teachers Retirement System now owns 890,051 shares of the healthcare company’s stock valued at $13,013,000 after acquiring an additional 830,340 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of InMode by 5.0% during the 1st quarter. Janus Henderson Group PLC now owns 932,132 shares of the healthcare company’s stock valued at $12,752,000 after acquiring an additional 44,575 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

InMode Company Profile

InMode Ltd. (NASDAQ: INMD) is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for minimally invasive and non-invasive aesthetic and medical treatments. Its technologies are designed for use by physicians and other healthcare professionals in areas including facial rejuvenation, skin resurfacing, body contouring, hair removal and women’s health.

The company’s product portfolio includes radiofrequency-based systems such as BodyTite and FaceTite for tissue remodeling and contouring, Morpheus8 for fractional skin treatment, and multi-application platforms such as EmpowerRF and Optimas.